Facebook IPO: Instagram No Longer Closing In Q2 2012

Facebook today filed its seventh amendment for its IPO filing, meaning the numbers for its Instagram purchase have changed yet again. Further the social giant has removed $1 billion Instagram acquisition this quarter. The total deal was: 30% cash, 70% stock and Stock valued at ‘north’ of $75 billion.

Here’s the relevant text from the sixth amendment:

This acquisition is subject to customary closing conditions, including the expiration or early termination of all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended (HSR), and is currently expected to close in the second quarter of 2012.

Here’s the corresponding text from the seventh amendment:

This acquisition is subject to customary closing conditions, including the expiration or early termination of all applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended (HSR), and is expected to close in 2012.

The seventh amendment says:

Facebook is offering 180,000,000 shares of its Class A common stock and the selling stockholders are offering 157,415,352 shares of Class A common stock. We will not receive any proceeds from the sale of shares by the selling stockholders. This is our initial public offering and no public market currently exists for our shares of Class A common stock. We anticipate that the initial public offering price will be between $34.00 and $38.00 per share.

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